"Let Them Eat Cake"
Blackstone is supposed to be the largest money manager in the world. If they are taking this attitude regarding the oil and gas industry, I’m sure the bureaucrats are working hard to resolve the problems back home. What will almost ten years of zero interest rate policies give you. Complacency. It's good they were able to sample the fine air in Switzerland, and the camaraderie of their kind. Soon they will be faced with the fact that the oil and gas industry, as it stands today, is in a severe crisis. There just is no cash to continue beyond the April 2016 time frame. At that time they will find the banks are closed. The junk bond market might be offering, but at the interest rates that they’re offering at, it will only tell the world that you as a producer are in such deep difficulty that you’ll be run over even faster if you take their money. And of course the investors are just not interested in getting involved. Particularly if this is going to take a decade to resolve.
I think the question that will need to be answered in the April time frame is what exactly do you do when your paycheck bounces. The nonchalant response from those at Davos, that the industry will come back eventually, strikes me as we should all be happy with the cake that we have to eat. It's the people who have committed their careers to the oil and gas producers in the past decades. Who may have been educated in the unique areas of petroleum engineering or geology that will be paid to suffer, as many others will. Entering their 40’s with mortgages and kids, this is how they envisioned their career progressing.
It didn’t have to be this way. Anyone who was paying attention could have foreseen this. I did and I prepared a solution that would fix this. I’ve had enough bureaucrats call me crazy these past few years, I wonder what that makes them now. Lazy, careless, self-interested and irresponsible. No one is this stupid. Its carelessness. Simply not giving a damn. Do you hear anyone expressing a concern for the future of the people's lives they destroyed?
After all the screaming and all the yelling. We need to move on with the bigger issues ahead of us. The industries health itself. The Preliminary Specification is about building the capabilities of the industry for the next generation. The capabilities that the bureaucrats are about to destroy. We have a job to do in developing the Preliminary Specification. I don’t know how we’ll ever get funded. I have faith that one day we will. Without the oil and gas that is produced by this industry, society has a lot bigger problems than the ones that I have been ranting about on this blog. I understand that our personal situations are serious problems, we however, also have a responsibility. Who else is going to ensure that society continues on and develops in the manner that it’s able to. Without the oil and gas that we provide society, we will all have great difficulties. And that is thing we need to focus on, and maybe if we run into a bureaucrat down the road we’ll feel satisfied in giving them a swift kick.
The Preliminary Specification and user community provides the oil and gas producer with the most dynamic, innovative, profitable and successful means of oil and gas operations. People, Ideas & Objects Revenue Model specifies the means in which investors can participate in these user defined software developments. Users are welcome to join me here. Together we can begin to meet the future demands for energy. And don’t forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here.